One day

58 If you borrow money that is one day overdue, you will not be able to get your credit report, it mainly depends on the lender.

When we borrow money from relatives and friends, it doesn’t matter if we pay it back one day earlier or later, as long as we pay it back in full. Many people bring this life experience to deal with lending institutions, and they are totally wrong!

Whether it is a bank, consumer finance company, or other lending company, the requirements for repayment dates are very strict. As long as it exceeds the specified time point, even if it is only one day late, it is considered overdue. The longer the delay, the more serious the consequences.

Arrearage is divided into levels every 30 days. The Central Bank Credit Reference Center uses 6 levels to quantify the severity of overdue payments, which are then reflected in your personal credit report. For example, if it is 1-30 days overdue, it will be marked as 1; if it is 60 days overdue, it will be marked as 2; if it is 90 days overdue, it will be marked as 3; and so on, if it is 180 days overdue, it will be marked as 6.

Once these numbers appear on your personal credit report, it will not be so smooth when you go to the bank to apply for a loan, housing loan, or car loan. When the mark reaches 3, you will be put on the "blacklist" by various financial institutions. Want to borrow money? Basically it will be rejected immediately.

The credit reference center I just mentioned uses 1-6 to mark the severity of overdue payments. These numbers are difficult to find if we don’t check the personal credit report. Will there be a situation where the deadline is unknowingly overdue for many months? Generally not, because if it is overdue to a certain extent, it will trigger the "collection" action of the credit agency.